JOLIET, Ill. (WBBM NEWSRADIO) -- Small businesses that have been suffering during the pandemic may be eligible for federal grants and Will County is recommending those business start applying now.
Will County officials said through the CARES Act recently passed by the U.S. Congress, the county will receive more than $120 million of this federal funding, of which $24 million is earmarked for small businesses.
"Small businesses are the backbone of our economy," said County Executive Denise Winfrey, in a statement. "I encourage any eligible small business owner to take advantage of this opportunity."
Grants up to $15,000 per business are available to small business owners, Winfrey said.
She said many businesses had to be closed during Illinois' stay-at-home order, but business owners still had to pay for rent, utilities, supplies and other things.
"Or, you had to put out money for personal protective equipment in order to be able to operate. That's an expense you would not have planned on 'cause you didn't know that was going to happen. You can use the money for that, as well," Winfrey said.
Winfrey emphasizes the money is in the form of grants, not loans.
"People can take the money, don't have to pay it back," she said.
The county has created a special page on its website for small businesses to apply for this funding. Businesses with under 25 employees and less than $2.5 million in annual revenue are eligible to apply. Applicants must document revenue loss and/or an increase in expenses directly related to COVID-19. The business must have been operating on or before February 15, 2020 and be in good standing with the State of Illinois and Will County. Home-based businesses and sole proprietors located within the county are eligible to apply for these funds.
The online application opened Monday and can be accessed at www.willcountyillinois.com/COVIDbizgrant. The deadline for filing the small business grant application is midnight on Sept. 28. Technical assistance for prospective applicants is available in both English and Spanish."County government wants to do everything we can to help save our small businesses and help them be successful," Winfrey said.
